olljjjhh MaxiDrive manufactures a wide variety of parts for recreational boating, including a gear and driveshaft part for high-powered outboard boat engines. Original equipment manufacturers such as Mercury and Honda purchase the componentsfor use in large, powerful outboards. The part sells for $700, and sales volume averages 35,000 units per year. Recently,MaxiDrive's major competitor reduced the price of its equivalent unit to $678. The market is very competitive, and MaxiDriverealizes it must meet the new price or lose significant market share. Management has begun paying closer attention to costsand has reconfirmed the current existing standard costs. The controller then assembled the following cost and usage datafor the most recent year for MaxiDrive's production of 35,000 units:BudgetedQuantityActualDirect materialsBudgeted Cost Quantity$ 7,500,000Actual Cost$ 8,000,000Direct labor2,660,0003,125,000Indirect labor2,900,000Inspection (hours and cost)1,320500,0002,000Materials handling (number of purchases and cost)Machine setups (number and cost)6,5001,000,000 4,4502,4001,250,0002,500Returns and rework (number of times and cost)500180,000$ 15,990,0007002,620,000450,000985,0001,225,000230,000$ 16,635,000Required:1. Calculate the target cost for maintaining current market share and profitability. (Do not round intermediate calculations.Round your answer to 2 decimal places.)Target cost

Cost Accounting is a process of identification, classification, measurement, and assignment of costs…

Answered: $ 15,990,000 $ 16,635,000 Required: 1.…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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$ 15,990,000 $ 16,635,000 Required: 1. Calculate the target cost for maintaining current market share and profitability. (Do not round intermediate calculat Round your answer to 2 decimal places.) Target cost